Member Info for Bamps21

Ah the Pie Factory pub in Tipton best pie and chips ever.
Saw dust on the floor I asked for a pint of bitter shandy.
Don't do dem coktail dings in ere
:))

Ow am yam :))

Well for those that didn't like the banter this is what happens to a Board it dries up.

I just wanted to talk about the amount of building going on , well round Worcestershire mainly.
There's so much happening everywhere you turn, with housing sites, new road projects, extensions, road repairs and digging them up again.
Then last night they're talking about the country's debt pile.
The two things together don't match in my opinion

I spent many enjoyable years building around Wolverhampton and the Black country, great people but couldn't understand them.
While I was there the Mayor of Tipton went to New York to see Mayor Juliano after the twin towers disaster.
While both were looking over the site Juliano said 'I've never heard of Tipton which State is it in'
" Oh well I suppose it looks a bit like this really "
:))

Just been reading the jv terms of the Newcrest and Antipa agreement of the Wilki block in which part of Parlay is situated.
Signed early this year
Initial exploration stage of 2 years managed by Antipa, Newcrest are investing $3.9m for a 9.9% share of the company. To include IP survey,MMI survey and an AEM survey.
Stage 1 NCM to pay $10m to fund drilling and exploration costs and have the right to manage this exploration within 5 years of commencement of jv to earn 51% of Wilki
Stage 2
A further $44m expenditure to earn 75% of Wilki within 8 years of commencement.

It will need a 100% vote to proceed with mining or if the smaller holding votes no then the majority holder has the right to buy the 25% holding at FMV.
There is no PFS or FS in the agreement and Antipa will have to pay their share of costs.

I think Ggp have struck a tremendous deal looking at the terms of this agreement.

I can't help wondering if the costs for the AEM over Parlay will be shared between Antipa and GGP.
All getting interesting:))

I never use stop losses I want to sell when I want to sell.
The sp is far too cheap at the moment for me to sell, there's a long road ahead :))

Hi napthman
I would expect Berenburg are too busy talking to their client base and getting the price lower for them to buy in :))

That should be gold from the copper concentrate before anyone spots it :))

Hi Count
The drilling logs are indicating a higher average in the High Grade Zone than the average shown on the RNS and I have asked the question to the company.
With the bulk mining looming, imaging the scenario of having no Breccias either side of the High Grade Zone then Block mining would not be an option , it would be more of expensive stoping option.
With the Breccias the bulk mining would happen either side of the HGZ resulting in cheaper extraction of the HGZ.

The Breccias are very important not only for which mining operation will occur but the volumes are huge and at only 2g/t stated by the RNS will give 7.4m t.
If that grade increases which I believe could happen that would be 3.7m per 1g/t.
Could this happen, well it's still open at depth and the highest Breccias grades are surrounding the HGZ so yes it could happen.
I've not taken into account the Breccias in the crescent outside the dimensions of the RNS or the new area of Breccias or the open to the NW.
The Breccias at 3g/t would give over 11moz
The Breccias in the crescent and new zone may have 5m+
The high grade zone according to the RNS dimensions may have 2.4m oz, according to Hannam figures may have 4.2moz.
I believe Havieron could be close to the 20m oz but it's still open at depth and NW so may increase and that's me being realistic.

Regarding Scallywag gold I don't believe we will have the Breccias it will be more of a copper find with the gold quantities coming out of the gold but that's only from what i've seen of the sample results.
GH talked about the Arsenic amounts, yes it's an impurity in the copper but it also comes with all the associated precious minerals so don't discount those, some are very expensive
ATB:))

Hi Count
The average for the high grade zone can't be greater than 5 if the Upper Zone >5 and the Middle is >3 and the lower is >1.5.
An average of 6.4g/t would make the top level around 9 or 10 is that achievable I hope so,but the RNS figures are too low for that

There are 2 geophysical surveys covering Parlay at the moment
Residual gravity survey shows that the anamoly is c50% on the Ggp licence .
The Reduced pole magnetic survey shows the anamoly 75% on Ggp licence.
The IP survey has indicated that Parlay is high gold target.
The new AEM survey should pinpoint a drilling location I'm not expecting many drills may only be one unless it's very good.

If it's straddling the Antipa /Newcrest joint venture I'm presuming there may be some sort of deal in the pipeline .

The depths of cover is approximately 50-100m
Some idea of the depths of the mineralisation can be seen on the cross sections on the website
There are 3 surveys covering Scallywag at the moment Magnetic,gravity and 2D Induced Polarisation (IP)
The cross sections pick out where these coincide with each other and this is the area to look for.
At Kraken the mineralisation starts about 50-100m and possibly down to 150m but the surveys are only reliable down to a certain depth so this is where the drilling is needed
Blackbeard and Barbossa are lower down the coincidence is about 100-150m to the top
Couldn't find a section for London but it's a different geology and a low gravity site
The MMI sampling picked out high levels of copper to the south end of Blackbeard and around Kraken.

Kraken is the anamoly that looks very similar to Havieron.

Hi spoon key
Regarding your point 2
It was my query over Hannam's average grade of 6.4g/t which Hydrogen pointed out their experts picked this out and they have calculated from the drilling logs. The copper average they have calculated a 0.6% average.
My query with it is in the RNS Newcrest grades are lower . The Upper zone is only 5 g/t and the 2 lower zones lower. The copper in the Upper Zone is quoted at 0.175%.
I have asked Ggp which figures should be used for clarity.

When I looked back at the drilling logs the Rns averages do look low compared to the logs.
I do not have access to any software modelling like Leapfrog which would have produced the average figures.

The Breccias zone is going to hold far more gold ounces than the high grade zone even at 2g/t possibly 10-15m oz with the new zone and still open to depth and the NW

Hi Hydrogen
I'm a bit frustrated that the Rns has stated figures clearly out of line with Broker consensus. It's clear to me from drilling results that the average g/t should be higher. Will we all get disillusioned if the Rns figures turn out to be correct?
I still believe the tonnage in the Breccias has far more potential to make this a Tier 1 asset, even the Rns figures come to 7.4m oz at 2g/t without the crescent or the new zone which is a Tier 1 asset on its own.

If your figures are anywhere near the mark I would be real chuffed but they are only heresay at the moment and the only definitive figures we've been given at this time are the ones in the Rns which are lower than the brokers
ATB:))

Hi Hydrogen
I know it's hard for anyone to work out and they are party to info that we are not.
But their average is very high to the published figures.

Just trying to fathom out how they got their 6.4g/t and it says they've reassessed the drilling results to come to that conclusion whereas the Rns conflicts with that
Upper 5g/t
Middle 3g/t
Lower 1.5 g/t
They have used 6.4g/t average, have they been advised by Newcrest. Are the last published figures going to be updated or are their calculations incorrect.

Certainly something not right

Hi aidin
ooh that looks interesting:)))

Hi ziquarat
What are you concerned about, I have no concerns with it. From my experience with share options cash for the options can be borrowed from the bank or company. Some of the Shares are then sold to cover all costs and the loan repaid.
More importantly the cash is invested in the company and doesn't disappear into the stock market.
The aero magnetic survey is probably being paid through some of these schemes.

Hi aidin
GH mentioned Winu was found by the aero magnetic survey, so yes it will help to define the drilling site but I would suspect the geophysics has pinpointed positions already.
Parlay looks interesting as the anomaly appears to be straddling the border of the next licence to the west. I'm not sure whose got that licence but on the RNS it does say they are actively looking at other areas. Be interesting if Newcrest have got that licence:))

I'm wondering why Parlay and not the high amplitude Blackhills South target.
Parlay is in the Blackhills licence area and South is in the Scallywag block.
Parlay was one of 3 new targets identified with no historic drilling along with Blackhills North and South.
On the web site it states
" The Company will carry out field work over several prospects at Blackhills including surface geochemical sampling and geological mapping to determine the areas of greatest potential for high grade gold mineralisation . Results of this work will outline drill targets at the Blackhills project "

Parlay looks to have potential for high grade gold so has been added to the list of drilling targets.